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Berkshire Inheritance Tax Planning & Reduction
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Writing A Will To Reduce Probate costs |
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Low Cost Probate Fees & Services Executor Services Trustee Services |
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What to do When
Someone Dies Without a Will |
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Berkshire Inheritance Tax Planning & Reduction Throughout Berkshire Do You Live In Berkshire and Worry About Your Family's Inheritance Tax Bill
The choice is simple plan and give the money to your kids or other family members, don't plan and give your money to the taxman.
The Choice is Yours Give the Money to the Taxman or to Your Kids!
If you are single or cohabiting use our calculate to calculate your Inheritance Tax liability why
not try our
free Inheritance tax calculator by clicking here If you are a couple cohabiting or living together, there is no spousal relief from Inheritance Tax, this means that all of your partners assets over £325,000 will be subject to the 40% tax. This is money you, if you were the beneficiary of their Will would have to pay. There is also no right to transfer the nil rate band. This puts you at a sever disadvantage and as a recent National Consumer Council reports says also puts you in the highest If you are a married couple or a same sex civil partnership you can pass all assets freely to your spouse on death your death, but this is not the most tax efficient way of ensuring your spouse is cared for. As part of the pre budget speech in October 2007 The Chancellor announced that married couples and couples in civil partnerships can transfer the nil rate band or the unused portion of it to a surviving partner after second death. group at risk through not having a valid Will.
£325,000 may seem like a great deal of money, but with the average
house price in the south of England is £258,620 and the average
price of a detached house in Buckinghamshire being £411,189, you
really need to think if your tax liability is going to be a problem
for your family after you have gone. If you are do have assets over £624,000, including the value of your home, life insurance, death in service benefits, the value of foreign property owned, stocks, shares and other investments, we can usually still reduce or eliminate your Inheritance Tax liability in combination with our other partners. Many people also undertook Nil rate band planning prior to this change and are unsure what effect their current Wills may have. It may be possible to update or renew existing Nil Rate band Wills to offer additional protection against potential long term care costs. If you still have concerns about inheritance tax, or your current Wills or would like to understand how you can now protect significant portions of your assets against care costs please give us a call to arrange a free consultation.. |
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Berkshire Inheritance Tax Reduction, Planning and Avoidance |